(Reuters) -Marriott International cut its annual profit forecast on Monday as weak domestic travel in China overshadows strong group and international demand.
Hotel operators have signaled demand remained flat during the reported quarter in the U.S. and soft in China, despite U.S. consumer spending increasing at its fastest pace in 1-1/2 years and as wealthy Chinese preferred to travel abroad.
The company now expects full-year adjusted profit of between $9.19 and $9.27 per share, compared with the $9.23 to $9.40 it had previously forecast.
System-wide revenue per available room (RevPAR), or room revenue, an important metric in the hospitality industry, fell 7.9% in Greater China in the third quarter. It was flat in the U.S. and…